Business, 25.11.2020 14:00 apalacios3503
On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are available:
Sales, January 1 through April 15 $600,000
Inventory, January 1 100,000
Purchases, January 1 through April 15 500,000
Markup on cost 25%
The amount of the inventory loss is estimated to be:
a. $120,000.
b. $60,000.
c. $150,000.
d. $100,000.
Answers: 1
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On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store....
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